Bayer MaterialScience to close carbon nano projects

Potential areas of application that once seemed promising are either "very fragmented" or have few overlaps with BMS' core products, says the firm.

"For BayerMaterialScience, ground-breaking applications for the mass market relating to our own portfolio and therefore comprehensive commercialization are not likely in the foreseeable future," CEO Patrick Thomas said in a statement.

The 30 people employed in this sector by BMS will be transferred to other positions in the group.

The company is yet to decide how it will use research already conducted into CNTs but says much of the knowledge has already been shared with other companies in the Innovation Alliance Carbon Nanotubes.